Consumer confidence revised slightly upward
The University of Michigan index stood at 48 points, compared with the initially estimated 46.3. However, purchasing power remains one of Americans' main concerns.
U.S. consumer confidence declined less than expected in October, according to a revision published Friday by the University of Michigan. Despite the improvement from the initial estimate, consumer sentiment continues to be marked by concerns about purchasing power.
The confidence index compiled by the university stood at 48 points, virtually unchanged from September.
The preliminary estimate had pointed to a steeper decline, down to 46.3 points—a figure close to the low recorded last May, when it reached 44.8 points.
Despite this upward revision, the indicator reflects a deterioration in households' economic outlook in recent months. In February, before the start of the war in the Middle East, which triggered a rise in energy prices, the index was 15% higher.
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